Mic: Hedge Fund Manager's Turing Pharmaceuticals Raises 62-Year-Old Drug From $13.50 to $750

Mic: Hedge Fund Manager's Turing Pharmaceuticals Raises 62-Year-Old Drug From $13.50 to $750

What would you do if the price of your everyday prescription rose 5,500%?

It may seem far-fetched, but it's exactly what happened to Daraprim (pyrimethamine), a drug originally developed over 60 years ago to fight protozoal infections like malaria and toxoplasmosis. After Martin Shkreli, a former hedge fund manager, acquired the drug for his company, Turing Pharmaceuticals, he raised the price by 55 times overnight, according to the New York Times.

Daraprim used to cost just $13.50 per dose. Now it's $750 for each and every tablet, meaning some people who need it to manage chronic infections have seen the cost of their health-care explode into the six-figure range. People who take Daraprim include immunocompromised HIV and cancer patients.

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Topics: News

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Truveris Team